Eid ul Azha 2016: Rs. 200 billions rural economy

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ISLAMABAD (APP): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that Eid economy has been expanding in the country as over Rs 200 billion were transacted from urban centres to rural areas during the Eid-ul-Azha.

He said that some estimates suggest that around Rs 200 to Rs 300 billion have been shifted from urban centres to rural areas during Eid-ul-Azha in which 85 percent was spent on buying animals, he added.

The FPCCI President said that Eid-e-Qurban generates a greateconomic activity around the Muslim world.

The Eid create millions of temporary jobs, benefit unemployed, transport sector, tanners, textiles, social and religious groups etc, he said adding this promotes country's livestock sector which is 58.5 percent of the agricultural sector and over 12 percent of the GDP.

Abdul Rauf Alam said that a little focus can help country export sizable number of cattle heads to Saudi Arabia benefitting ruraleconomy and earning foreign exchange.